Consider a portfolio consisting of $10 million in Microsoft and $5 million in AT&T. Assume

1) the returns of AT&T and Microsoft are bivariate normal and that the correlation between the returns is 0.3

2) the daily standard deviations of MIcrosoft and AT&T are respectively 2% and 1%,

3) we consider 10 days investment and 99% confidence interval (2.326 standard deviations), what are the respective VaR when holding Microsoft and AT&T alone? What is the incremental effect of VaR when holding both of them in a portfolio?